Bank ripoff

CC Bear · Senior Member

Bank ripoff

Weedpharma · Veteran Member

I had a pile of coins so I requested a pile of coin bags as I had sorted and counted it manually. Went to the bank and was told they no longer have bags. I should just bring it all in and pour it in the machine. There was a fee of 10% to count it! Fortunately, I was putting it into BankWest and they where the Commonwealth. Although they owned BankWest, they could not deposit. They gave me notes in cash without the fee.

Weedpharma

goldfinger · Senior Member

Vote with your feet I did not long ago....wanted to withdraw $3000 in cash from NAB and they said if I want cash """in cash""" it would cost me $75.....or they could supply a Bank Cheque for $25 payable to whomever I nominated....I was actually buying a gold detector however I may have wished to stick the cash under my bed, as I told them it is no concern of theirs what I would do with the 'Cash'....

I pulled out my NAB Platinum MasterCard which I had had for years when in business....and asked to see the Manager as it was a Country Branch....he said still $75 if I want 'cash' as it costs them cash to keep cash on the premises....I walked out 'cashless' after his lecture informing him that I had been a Bank Manager for over 20 years and he was spruiking extorting garbage and guaranteed way to lose business...with mine being first up...

When I rang NAB to tell them I was closing my account and voicing my displeasure, and going to the ANZ..and they could stick their Platinum MasterCard up sideways....they offered to pay the Platinum MasterCard yearly fee of some $100 plus if I kept It!...in other words they were prepared to forego $100+ rather than forego the $75 demanded in the first place...Durrh.....

It's all about greed because they believe they can.....when will greedy establishments/business learn most 'elderly' grey nomads will vote with their feet rather than submit to their attempts at extortion/ BS....we have already been worked over by the best during our Family years when we were not able to rock the boat...but not now!..similar to when Caravan Parks are being unreasonable I and I believe most others, will find any other alternative rather than give them a cent.....

I see the big 4 Banks are being sued for their ' smarmy rates manipulations' which have cost US Banks/Major Investors/Dealers etc Millions$'s.....great to sit back and watch them squirm for a change, in an attempt to 'spin doctor'/lie their way round the Law Suits, with the Australian Government unable to protect/help them on this one...this could cost them plenty......Hoo Roo

dorian · Guru

Please explain to us how an individual accumulates a pile of coins that amounts to $800. I manage my affairs so that I never have more than $5 of change in my wallet. For example, if something costs $19.20, I pay $20.20 or $50.20 and get a single coin in return. Isn't that how everybody does it?

BTW, Crapple is about to enter the banking business. Sure, they'll give the banks something to worry about, but their profits will be going to Liechtenstein or some other tax dodge.

Wizardofoz · Guru

I don't, so obviously not everybody does do it your way.

dorian · Guru

Wizardofoz wrote:
I don't, so obviously not everybody does do it your way.

Please tell us what you do. I'm always open to better ideas.

jade46 · Senior Member

My wife does this .Drives me and the checkout chicks nuts

dorian · Guru

jade46 wrote:
My wife does this .Drives me and the checkout chicks nuts

The checkout persons at my store invariably ask, "Do you have 20 cents?" BTW, would your "checkout chicks" be happier if I gave them $19.20 instead of $20.20?

-- Edited by dorian on Saturday 20th of August 2016 07:04:23 AM

brickies · Guru

If you have this much in coins it shows you are well off .

Hewy54 · Senior Member

have not withdrawn a large amount of cash for a couple of years, but 2 years ago when I needed to take out $20000 the NAB just asked that I give them a days notice.
2 weeks ago I needed a bank cheque for $19000. The NAB did it no problem and only charged $11 not $25.

CC Bear · Senior Member

Always the few, ok every time I come home I empty change into a tin, if at any time I need just a few dollars for the local shop I may take it out of the tin. This can go on for one or two years but when the tin is full it is cashed in over the last nine years I have managed to use this as a personal saving devise and have paid several thousand of the home loan.

For some stanger who does not know us or our way of life to state that we are well of is hitting the gutter in insults. As I said a saving devise on checking my records it has been 18 months since last emptied that for the gutter brains is 800 divided by 18 = $44.444444 O my I am a rich person living the well to do live in total luxury.

It would seem no matter where you go or what subject the forum is about you will always find those willing to attack and downgrade others when there is no need.

To finish of due to bad health with heart attach, joint replacements and a few other things I have been unable to work since 2010 and must rely on my good wife to work as we receive nothing from the goverment. Now go ahead and have another go at some one you do not know. Have a good weekend because I am. Cheers

Woody n Sue · Guru

I must be going to the wrong shops when I give them the extra 20 c so the change will be a $5 note it just confuses the Sh t out of them and can't work out the change
Woody

Krusty · Senior Member

I use "tap-and-go". Been Cashless by doing it for the last few months as an experiment. Works fine. I just tap everything, even an ice cream. Checkout Chicks love it as they don't have to handle any money, they just give me a receipt. It's easier for them. I don't carry a wallet anymore (it stays in the car, hidden) just my mobile with my Visa card in it. Once Pay wave comes in I'll just use the mobile by itself.

dorian · Guru

In all the decades since I got my first wallet, I have never put coins in any jar. Today the sum total of all the metal in my wallet consists of a 20c piece, an Aldi token, and the rivet on the coin pouch.

I would happily go completely cashless if it were universally available, but it is not. That said, I prefer swiping or inserting a card to any contactless form of payment. Call me paranoid or a Luddite, but I don't like RFID. When I get around to it, I'll drill out the antenna in my credit card.

Bagmaker · Senior Member

you can discharge loose change / coin into most of the auto-tellers at big name retailers, bunnings, etc- when paying for goods

macka17 · Guru

Yea Mate.

Just don't lose your phone.

Most shonky ones nowadays can crack those things.

I use "Bitdefender". (A paid for one not free vers,)
Recommended by my bank to do all my transactions in.
It opens up a Sealed "Page" and everything goes through that.

It comes up automatically every time I go to do a transaction with anybody on net.
Covers PC. Laptop. Tablet and two mobiles for the one price.

OH. And I never use a "credit" card on net.

Manager told me when they first came out.

Get a 'debit" card.

And do ALL payments through that.

Just add amount rq'd any time you paying something.

then nobody can ever get access to your acc't.

Money in one bank. Debit pensioner card (no fees) with another.

No connections.

Safer for those that DO use cards. Keep your credit card to yourself.

I haven't had one for decades.

-- Edited by macka17 on Saturday 20th of August 2016 09:17:48 AM

the rocket · Guru

Omg. I spose if one bank does it, it won't b long before others follow.

Hewy54 · Senior Member

Bank fees can be high, but managed correctly it is possible to make money out of the banks.
We put ALL bills on a credit card so our monthly credit card account is usually running at about $4000.
This means that this money stays in our offset account, effectively earning 4% ($160 per year)
By putting all on the card we earn flybuys points of about 48000 per year.
These can be converted to gift cards worth $250 per year.
As long as you pay your card on time and in full, the net gain per year is about $400.

jrg · Senior Member

CC I do the same empty my pockets of all coins I,ll even hand over $25 for a $20.20 item to get the change .But I do cash mine in probabley once a month and as you do use it as a form of saving Xmas, holiday ect .I acknowledge at times it robbing Pete to pay Paul but it works and I,m happy (most important).

TheHeaths · Guru

Isn't it great that we are all different!

PeterD · Guru

dorian wrote:
Please explain to us how an individual accumulates a pile of coins that amounts to $800.

A lot of us throw our shrapnel into a container. I sometimes have nearly $100 in 50s and 5s in a plastic stubby holder when I get around to do something about it. (does that make me a bit more organised than the OP?)

goldfinger · Senior Member

NAB advised me its up to the discretion of the local manager to justify whether the fee is levied or waived...I was not at my own Branch and this Manager couldn't have given a toss as the business he lost was not from his Branch....very different in my day...when we tried to repay Loyalty with Loyalty...'Collateral Advantage' they called it..looking after family and associates connections....and of course we still knew who our clients were....Hoo Roo

mjt57 · Senior Member

Krusty wrote:
I use "tap-and-go". Been Cashless by doing it for the last few months as an experiment. Works fine. I just tap everything, even an ice cream. Checkout Chicks love it as they don't have to handle any money, they just give me a receipt. It's easier for them. I don't carry a wallet anymore (it stays in the car, hidden) just my mobile with my Visa card in it. Once Pay wave comes in I'll just use the mobile by itself.

This works well until you encounter a store, cafe or whatever which has minimum EFT-POS purchases. So, getting a coffee costing $4 requires cash. Or you can get the drink plus cake or something for the transaction to meet the min. requirements.

I rarely have more than $20 to $50 in cash on me. I have one of those tap and go or Paywave cards stuck to the back of my phone. Wave that over the terminal where there are no min price requirements.

Then there are the outlets such as roast chicken joints that have cash only. But like one here in town there's a sign at the cash register saying "no eftpos but there's an ATM behind you"...

I make a point of asking for a tax invoice, just to let them know that the ATO may or may not have them on file...

Wizardofoz · Guru

dorian wrote:
Wizardofoz wrote:
I don't, so obviously not everybody does do it your way.
Please tell us what you do. I'm always open to better ideas.

Same as others, either bank card or use a bank note and can the change at home...I must admit that I have on the odd occasion given them the loose coinage to leave a dollar or two as the change and a couple of times a young cashier has actually been confused and was unsure what to do. biggrin

-- Edited by Wizardofoz on Saturday 20th of August 2016 04:55:49 PM

Onedodger · Guru

I am one of those that empty the pockets of loose change into a money box, one for gold & one for silver. These are used until full then deposited into our fuel account. At odd times this can ammount to as much as the Dollars mentioned. Certainly helps the fuel tank. Gotta keep the beast fed.

brickies · Guru

This practise buy the banks is not new has been around for a lest 15 years When we had a canten at work if we took the coins to the bank they would charge for doing so , I would take the money to Woolworths who would take and count the money in their office when I would finish doing my shopping for more goods for our canten the money would be waiting at the service desk for me .

kandagal · Guru

I use my credit card for all purchases. I now have enough frequent flyer miles to fly to USA & return. Flew to England about 8 years ago using my frequent flyer miles then so these I have now have accumulated since then. Alice

Bruce and Bev · Guru

Cards are great until youre in the outback and the EFTPOS machine has been off-line for weeks while the Servo waits for Telstra to ride into town on their donkey or the ATM provider to send a technician on foot to make the fix.

An example - The main WA coastal drag north of Exmouth. Only one servo in a 2 day drive. EFTPOS and ATM machine has been down for 2 weeks waiting for Telstra to turn up. People driving in with their C/C's unable to buy fuel as they don't have cash. And no 20 litre fuel cans carried in reserve. When I'm in the "sticks" I always carry at least $500 cash in case.

banjo · Senior Member

Bruce and Bev wrote:
Cards are great until youre in the outback and the EFTPOS machine has been off-line for weeks while the Servo waits for Telstra to ride into town on their donkey or the ATM provider to send a technician on foot to make the fix.

An example - The main WA coastal drag north of Exmouth. Only one servo in a 2 day drive. EFTPOS and ATM machine has been down for 2 weeks waiting for Telstra to turn up. People driving in with their C/C's unable to buy fuel as they don't have cash. And no 20 litre fuel cans carried in reserve. When I'm in the "sticks" I always carry at least $500 cash in case.

We were recently in Kalbarri Wa and the whole towns efpos went down, no cards accepted for nearly 4 days ! we didn't even have enough cash for a coffee !

IGA supermarkets were all cash only and fuel too, quite a few people were stuck in town awaiting mr telstra to get his finger out.

george57 · Senior Member

Hi all... Any loose change that I've accumulated I avoid banks because of their fees but instead head to the local Pokies venue which is open all hours and will convert without charge.... Cheers George